Is Pirelli Planning IPO For Tyre Unit?

(Akron/Tire Review) Multiple news reports say that Pirelli SpA is looking to spin off its tyre unit as a separate entity, and launch an initial public offering of stock. Forbes.com reported today that Goldman Sachs will likely be appointed to handle the IPO. News speculation in Milan says the Italian tire and telecommunications giant planned to separate its global tyre operations into a stand-alone company. Pirelli has not commented on those reports, though.